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    16Th Ave Union Gap, WA 98903

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    For Sale
    Contact for pricing

    15.71 Acres, Light Industrial Zoning

    Property Features for 0 16Th Ave

    General Information

    Property type
    Land
    Lot Size
    684,328 SF

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    Listing Contact
    John Hodkinson
    John Hodkinson

    Listing Agency: Almon Commercial Real Estate Listing Agent: John Hodkinson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 15.71-acre industrial land parcel in Union Gap, WA, presents a compelling investment opportunity. Zoned for wholesale warehousing (light industrial), this fee-simple property boasts city utilities and power readily accessible on-site. The lot is conveniently located on a paved street, easily accommodating truck traffic, and enjoys proximity to the Union Gap airport. A significant advantage is its adjacency to Athanum Road, providing direct access to the Union Gap Beltway (currently under construction), offering seamless connectivity to Interstate I-82 and Highway 97. While a portion of the property falls within the 100-year floodplain, this area is suitable for parking or lay-down yard applications. The property is situated on S. 16th Ave., just north of Kwik Lok Corp., offering excellent visibility and accessibility. The asking price is $2,052,983, translating to $2 per square foot of land value. The property's APN is 181202-42421. Open for offers. This prime location and versatile zoning make this an ideal site for various industrial uses. The property is being sold by the owner.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Union Gap
    County
    Yakima
    State
    Washington
    Longitude
    -120.52827376147
    Latitude
    46.555826942441

    Nearby Similar for Sale

    • $10,250,000
      80,715 SF

      Union Gap Warehouse: Prime Location

      80,715 SF Warehouse, $10.25M
      94 Valley Mall Blvd, Union Gap, WA 98903
      View Details

    FAQs

    What type of property is this?
    Land - 15.71 Acres, Light Industrial Zoning
    Where is this land located?
    The property is located at 16Th Ave Union Gap, WA.
    What is the asking price?
    The asking price for this property is $2,052,983.
    What are key features of this property?
    This property features: 15.71-acre industrial land parcel in Union Gap, WA, zoned for light industrial use.; Fee-simple ownership with city utilities and power readily available.; Paved street access, accommodating truck traffic, near Union Gap airport.
    (509) 966-3800 Call to check price and availability
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16Th Ave Union Gap, WA 98903
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Hodkinson
    John Hodkinson
    Real Estate License ID: 21951
    (509) 966-3800 (509) 930-8100
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